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Land as a factor of production does not vary in

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Commerce JAMB 2023

Land as a factor of production does not vary in

  • cost
  • quality
  • quantity checkmark
  • nature

The correct answer is: C

Explanation

Land as a factor of production does not vary in quantity. The total land area of the earth is fixed and cannot be increased or decreased. However, the nature, quality, and cost of land can vary. The nature of land refers to its physical characteristics, the quality refers to its productivity or usefulness for a specific purpose, and the cost refers to the price of acquiring the land.

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